BP plc (ADR) long term shareholder investigation

May 4, 2010 - PRLog -- An investigation on behalf of current long term investors in BP plc (ADR)  concerning possible securities laws violations was announced.

If you are a current long term investor in BP plc (ADR)  stock, you have certain options and you should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.

BP p.l.c., located in London, United Kingdom, is an international oil and gas company. BP p.l.c. reported in 2007 Total Revenue of $291.438billion, in 2008 $367.053billion, and in 2009 $246.138billion. According to the investigation by a law firm the investigation on behalf of current long term investors of ADR BP plc  concerns possible shareholder claims in connection with the drilling rig explosion. On April 20, an explosion on the Deepwater Horizon offshore drilling rig operating off the coast of Louisiana resulted in a fire that sank the rig, caused a large-scale, ongoing oil spill, and killed 11 workers. At least 1.6 million gallons of oil have reportedly spilled so far. President Obama said that responsibility for the cleanup rests with oil giant BP, the owner of the lease, but that the government would assist affected communities. BP Chief Executive Tony Hayward told National Public Radio on Monday that BP fully accepted responsibility for the spill, and is ready to pay all legitimate claims tied to the oil spill caused by the accident. BP has not put an estimate on the likely costs of the spill, but it said it will pay for all the cleanup costs from a ruptured oil well in the Gulf of Mexico that could continue spewing crude oil. Last week BP said that BP and its partners in the well were paying $6 million a day in clean-up efforts but added that costs would rise sharply when the oil slick hit land. The Congress and the U.S. Justice Department are investigating the oil spill in the Gulf of Mexico. On Tuesday, April 27, 2010, lawmakers asked the owner and operator of the oil rig for documents as part of a congressional investigation into the accident. On Friday, April 30, 2010, U.S. Attorney General Eric Holder said he was dispatching a team of lawyers to New Orleans to monitor the oil spill. Even though the cause of the explosion is still under investigation more than two dozen lawsuits have reportedly already been filed claiming the explosion was caused when workers for oil services contractor Halliburton Inc. improperly capped the well, a process known as cementing. Shares of BP plc (ADR)  declined from $60.61 per share on April 20, 2010, to close to its52weekLow of $42.95 per share to $47.48 per share on Monday, May 03, 2010.

Those who are current long term investors in BP plc (ADR)  stock, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.

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The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.